
AI-generated summary
Exor is the holding company of the Agnelli family which controls stakes in several companies, including Stellantis. Net asset value (Nav) per share is a key indicator used to evaluate the performance of holding companies.
Exor, the holding company of the Agnelli family, intends to launch a share buyback program of up to 500 million euros, to be carried out on the market until the publication of the next financial results, expected in March 2027.
Net asset value per share decreased by 3.9% in the first half of 2026, while the MSCI World index grew by 11.8% in the same period.
“Of our four largest companies, Stellantis was the only one to see a decline in share price in the first six months of the year, with a significant impact on our Nav. At Investor Day, Stellantis presented FaSTLAne 2030, the five-year strategy under the leadership of Antonio Filosa, supported by €60 billion in investments. This is based on disciplined growth: a significantly higher operating margin by the end of the decade, the return to free cash positive industrial flow and a major cost reduction program already underway. The first results are encouraging", says John Elkann.
AI outlook — possibilities, not facts
Exor will complete the share buyback program by the publication of its financial results in March 2027
Likely · Within months

The Confindustria research center warns of a slowdown ahead for the Italian economy in 2026, despite an upward revision of GDP growth to +0.8% thanks to the first two positive quarters and the driving force of the Pnrr. Economists report that the continued closure of the Strait of Hormuz is keeping oil and gas prices high, fueling inflation and pushing central banks to raise rates, which will slow down consumption and investments in Italy too.

In Italy, 3.4 million people regularly work remotely and around 350 thousand professionals not tied to a company regularly travel to improve their quality of life, a number that has more than doubled in six years. 73% of freelancers have opened their VAT number to be able to work anywhere, and for 37% there is no figure that can make them give up this freedom. The main driver is the need to change the environment or regenerate (28%), followed by the passion for travel (25%). Four in ten cite freedom, flexibility and better work-life harmony as key benefits, while challenges include unreliable connections, lack of adequate space, fragile routines and increased travel costs. Despite the obstacles, 49% plan to move more in 2027, while 29% would like to do so but cannot for economic or family reasons. Professional freedom is not measured by the kilometers travelled, but by the possibility of choosing where to work.

Marcello Sala, president of Nexi, underlines that payment systems have become critical infrastructures essential for the economy and daily life, requiring security, resilience and collaboration between public and private to face evolving cyber threats and guarantee continuity of services, also in view of the digital euro.

The Italian ETF market doubles in five years, exceeding 39 billion euros. Despite the growth, oversupply creates decision paralysis: 51% of investors struggle to distinguish products, focusing on only 14% of the total offering.

Asphaltica 2026, the international exhibition of the road sector, will be held in Bologna from 7 to 10 October 2026. With 140 exhibitors and 9,800 m2 of surface area, the event focuses on technological innovation, sustainability and infrastructure maintenance.
Stellantis has announced a new phase of layoffs for the Mirafiori plant due to a complex production situation. Turin's Fiom criticizes the management, underlining the nineteenth year of use of social safety nets.